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Tax insights

Tax Insights

The 2019-20 Federal Budget was brought forward from May to 2 April with the unabashed motive of improving the Coalition’s election prospects in May 2019.  Roy Morgan’s February 2019 poll puts the ALP at 52.5% and the Coalition at 47.5% of the two party preferred vote.

The question remains - has the 2019-20 Budget done enough to turn around the Government's sentiment in the electorate and bridge the gap held by the Opposition?

View Federal Budget Coverage >>


Simplified Transfer Pricing Record Keeping (STPRK) options for loan

16 September 2019
On 11 September 2019, the ATO released an update to Practical Compliance Guideline (“PCG”) 2017/2, in respect of Simplified Transfer Pricing Record Keeping (“STPRK”) options for lower-risk transactions.

Glencore prevails over ATO in transfer pricing dispute – appeal likely to follow

10 September 2019
On 3 September 2019, the Federal Court (at first instance) found in favour of Glencore in its transfer pricing dispute with the ATO, regarding the pricing of copper concentrate supplied by Glencore’s Australian group to its Swiss parent.

Negative Gearing of Vacant Land - is this the beginning of the end?

6 September 2019
The Treasury Laws Amendment (2019 Tax Integrity and Other Measures No. 1) Bill 2019 was introduced to Parliament on 24 July 2019. One significant measure of the Bill is the introduction of proposed legislation to limit deductions for losses or outgoings incurred in relation to holding vacant land.

Accounting for the R&D Tax Incentive

15 August 2019
The R&D Tax Incentive has been in place since 2011.  However, uncertainty remains over the appropriate accounting treatment for it in financial statements.  Ralph Martin, RSM’s National Technical Director, considers the matter:

The Moreton Resources Case - R&D tax incentive in Australia

6 August 2019
The Moreton Resources Case – Finally certainty amongst the uncertainty for the R&D tax incentive in Australia, but only if you know how to find it.  

SimBT Tax Losses - Similar but not Simpler

10 July 2019
Similar business test

Tax time for individuals

2 July 2019
With tax time fast approaching, no doubt there are many individual taxpayers eagerly counting down the days until they can lodge their 2019 Income Tax Return and hopefully receive a much-anticipated tax refund.

Instant asset write-off – what can you claim?

17 June 2019
The instant asset write-off is not available for all business assets and determining which assets are eligible may pose a challenge for many small and medium-sized business owners (SME) and their advisers.

What’s on the tax agenda post-election?

5 June 2019
The recent Federal Election saw the Coalition led by Scott Morrison returned to government.  While this means that Labor’s controversial tax policies have been put on ice, it’s time to revisit the government’s tax agenda and what this means for you. 

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